Bankruptcy is there to help you, but there are things you can do that may end up causing you to be worse off after filing your bankruptcy. Before you make any financial decisions or changes and think you will be filing for bankruptcy, consult a bankruptcy lawyer to see what your options are and what you should be doing. You could end up making mistakes and not even know it. Read on for a few of these mistakes to avoid.
Falling into debt can create serious problems for debtors who are unable to make regular payments. If you find yourself falling behind on some of your own payments, your bank account could be subject to garnishment by creditors seeking to collect on a debt.
Since a garnished bank account can pose a serious problem when it comes to maintaining your financial stability, here are three things that you can do to deal with the garnishment of your bank account in the future.
Reaffirming debts during bankruptcy is usually not a good idea, because you will continue to be legally liable for them after receiving a discharge. If you decide not to reaffirm an account with a creditor but change your mind after receiving your bankruptcy discharge, you may be wondering if it's possible to still file the paperwork to do so. It depends. Here's what you need to know.
Technically, It's Possible
You thought you were ready for everything after the divorce. However, you weren't expecting to lose your job. Now you're deeply in debt and you have no way to pay your bills. It looks like bankruptcy is the only way out. Before you decide to file for bankruptcy, here are a few things you'll need to know. Following the tips provided below will reduce the problems you may experience.
Do Discuss Options with Your Creditors
You get collection notices in the mail nearly every day. You hate to answer the phone, afraid that it's another bill collector. It's time to take some action and get rid of the stress. You've toyed with the thought of filing for bankruptcy, but are still unsure if that's the way to go. Here are the typical approaches you have of dealing with your debt and how they stack up to the bankruptcy option.